Final Carrier Layoffs Coming This Week

Posted: Updated:
(photo courtesy of Carrier Corp.) (photo courtesy of Carrier Corp.)
INDIANAPOLIS -

The final round of previously-announced layoffs at Carrier Corp.'s Indianapolis operations is set to take place this week. More than 200 employees are part of the company's fan coil production operation, which is being relocated to Mexico.

The layoffs were originally supposed to take place in December, however Carrier delayed the move due to rising demand and attrition. The number of employees impacted by the layoffs was also reduced from 290 to 215. The company adds every employee will receive a one-time payment, severance pay and six months of medical insurance continuation. Nearly 340 employees were let go in the first round of layoffs in July.

In a statement released Wednesday, Carrier says its Indy operations will employ approximately 1,100 people once the layoffs are complete.

"Since the initial announcement, approximately 60 impacted employees have chosen to take advantage of the company’s Employee Scholar Program and pursue degree programs," Carrier says. "In addition to reimbursing four-year education costs, Carrier has also reimbursed, and will continue to reimburse, technical training costs for those who prefer to pursue a vocational technical certification program."

The layoffs from the fan coil production operation were not included in the deal announced in November 2016 by then-President-elect Donald Trump. In that deal, Carrier parent United Technologies Corp. (NYSE: UTX) committed to keep more than 1,000 jobs in the city, 800 of which were also slated to move to Mexico. 

The deal also included a $16 million investment by Carrier into the Indy facility. The Indiana Economic Development Corp. in July 2017 approved $7 million in conditional tax credits and training grants related to the investment.

You can read Carrier's full statement on the final round of layoffs below:

This week, approximately 215 employees will leave Carrier, completing the final phase of the previously announced plan to relocate fan coil manufacturing production lines. Following the transition, Carrier’s Indianapolis operations will employ approximately 1,100 people. 

Since the initial announcement, approximately 60 impacted employees have chosen to take advantage of the company’s Employee Scholar Program and pursue degree programs. In addition to reimbursing four-year education costs, Carrier has also reimbursed, and will continue to reimburse, technical training costs for those who prefer to pursue a vocational technical certification program. All impacted employees will also receive a one-time payment, severance pay and six months of medical insurance continuation beyond separation.

United Technologies, parent company to Carrier, announced in June 2017 that over the next three years it expects to hire nearly 25,000 people in the U.S., of which more than 5,000 new positions will be created in support of the company’s innovative new products.

  • Perspectives

    • Market Volatility - Fodder for Financial Fears

      Fact: The value of the stock market goes up and down.  It’s called “market volatility”.  How concerned should you be with a thousand point change in the index? Since your reaction can impact your personal portfolio, it’s most important that you have a good perspective. Significant price movements in the stock market grabbed headlines and captivated media pundits throughout 2018. The last week of the year the market experienced large price swings...

    More

Subscribe

Name:
Company Name:
Email:
Confirm Email:
HTML
INside Edge
Morning Briefing
BigWigs & New Gigs
Life Sciences Indiana
Indiana Connections
INPower
Subscribe
Unsubscribe

Events



  • Most Popular Stories

    • Indiana Liquor Group to Buy Save-On Liquor Chain

      Indiana Liquor Group LLC will work with the Indiana Alcohol & Tobacco Commission this week for final approval of its purchase of Save-On Liquor stores. Our partners at The Herald Bulletin report Phillip E. Miller agreed to sell the 31-location package store chain to ILG last month. 

    • Books & Brews Acquires Flat12 Bierwerks

      Indianapolis-based Books & Brews has announced its acquisition of Flat12 Bierwerks, also based in Indy. Financial terms of the deal are not being disclosed, however Books & Brews says it will continue to operate Flat12 under the same brand name. The acquisition is a continuation of an existing partnership between the two entities. Books & Brews says Flat12 has been a brewery partner for the past two years, brewing all of B&B's flagship and seasonal beers.

    • New Tourism Director Has Plans For Growth

      The new director of the Indiana Office of Tourism Development says she hopes to create a strategic plan to continue the growth of tourism in the state. Misty Weisensteiner began her new role earlier this month after being appointed by Lieutenant Governor Suzanne Crouch in December. The former executive director of the Orange County Economic Development Partnership says tourism and economic development go hand-in-hand and there needs to be a greater focus on that relationship.

    • Loeb Stadium Project in Final Design Phase

      The $17 million overhaul of Loeb Stadium in Lafayette is in its final planning stages. The Journal & Courier says the overall design of the project is complete, which includes flipping the field, an additional suite and a new entrance designed to be a more visible landmark. Lafayette Mayor Tony Roswarski unveiled plans for the reimagining of the more than 75-year-old stadium in 2017. The city council earlier this month approved a $17 million bond to fund the project.

    • BMWC Constructors Announce Leadership Changes

      Indianapolis-based BMWC Constructors, Inc. continues their strategic growth with leadership changes. Chairman of the Board Jim Davis retired after eight years in the role and after 30 years with the company.  President and Chief Executive Officer Brian Acton will move into the role of Chairman of the Board, while remaining CEO.